What about Canada’s housing bubble?

Although there is some truth to the oft-repeated idea that Canada regulates its banking industry more conservatively, there is more than just circumstantial evidence that the generally conservative outlook has not prevented a housing bubble from forming.
Housing prices have doubled across Canada over the last 10 years, despite broadly-flat wages. While higher prices in markets such as Calgary, Edmonton or Fort McMurray could, perhaps, be explained by an influx of workers tied to the energy industry (and a shortage of housing in place), it’s harder to explain why housing prices in Toronto and Vancouver should be about three and four times higher than average prices in the United States and more than double their historical average price ratios………………………………………..Full Article: Source